During the fiscal year 2024, the Monetary and Capital Markets (MCM) Department continued to assist the IMF membership build capacity in monetary and financial stability against an increasingly complex global backdrop, marked by inflationary pressures and rising debt vulnerabilities. MCM’s capacity development delivery exceeded pre-COVID levels this fiscal year. MCM‘s engagement fully reflected the “new normal” of delivery, including in-person, virtual, and hybrid engagements, delivering CD across a broad range of topics, spanning both core and emerging areas. Africa remained the top capacity development recipient, followed by Asia and the Pacific Islands region, Middle East and Central Asia, Western Hemisphere, and Europe. Capacity development delivery to fragile and conflict-affected states remained high on the country priority list.
The 2024 Annual Report showcases MCM‘s extensive CD efforts, including through a selection of impactful capacity development stories. The Report also discusses the challenges, opportunities, and strategy guiding MCM’s capacity building in an exclusive interview with MCM Deputy Director Miguel Savastano.